China extends lead as world’s largest car market

China's automobile production and sales both exceeded 11 million vehicles in the first half of 2014.
According to a statement released Wednesday by the China Association of Automobile Manufacturers (CAAM), 11.78 million vehicles were produced in the country in the year’s first six months - an increase of 9.6 percent compared to the same period in 2013.
China's total sales for new automobiles also grew 8.4 percent to 11.68 million vehicles.
Meanwhile, foreign brands increased their sales in the world´s second biggest economy as Chinese brands continue losing their market share to foreign automakers who are launching cheaper models for the most populous country.
Ford China sales grew by 35 percent while Chinese carmaker Great Wall Motor´s sales fell 6 percent during the period.
In 2013, Chinese consumers had bought about 2.7 million more new vehicles - from domestic and foreign brands - than American buyers, increasing total sales by 13.9 percent year-on-year to 21.98 million vehicles.